Subject area: Spare Parts Management Procurement Procurement plays a crucial role in spare parts inventory management, ensuring the availability of parts while minimizing costs and waste. By effectively sourcing, negotiating, and managing the supply of spare parts, procurement services contribute to streamlining inventory, enhancing decision-making, and reducing costs. However, achieving these outcomes requires an alignment […]
The Long Chain of Spare Parts Management Events
The Big Picture of Spare Parts Management Spare parts inventory management is crucial for any organization that relies on equipment to operate. It might help to think of the inventory of spare parts as a form of insurance policy that mitigates the risks of losses largely due to production interruptions but also safety incidents […]
Discover the 8 Proven Strategies to Achieve Your Spare Parts Inventory Management Goals
In this on-demand webinar, I’ll share with you the insights, tools, and techniques that I’ve honed over decades of experience in spare parts inventory management. As a young engineer, I faced the same challenges you’re likely dealing with right now. I quickly realized that almost everything taught about inventory and supply chain management […]
The Biases That Have the Greatest Effect on Your Spare Parts Inventory
Subject Area: spare parts inventory bias Recently, in a series of unconnected conversations, I was struck by how each speaker focused on some specific aspect of spare parts management that, to them, indicated how well (or poorly) they were doing in this area. For example, viewing a single event (such as a stock out) as […]
The Top 5 Spare Parts Management Mistakes
Subject Area: spare parts management mistakes Spare parts management is a crucial aspect of any organization that relies on machinery or equipment to operate. However, many organizations make mistakes when managing their spare parts inventory, which lead to increased costs, reduced efficiency, and even unnecessary downtime. In this article, I discuss the top 5 mistakes […]
Is Stock Turns the OEE of Spare Parts Management?
Subject Area: Stock Turns In operations management there are many metrics that are used to measure operational performance. One of the most popular is OEE – Overall Equipment Effectiveness. OEE measures the productive operating capacity of plant and equipment, compared to the theoretical maximum capacity of that plant and equipment. That is, OEE measures the […]
The Importance of Spare Parts Management Relationships
Subject Area: Spare Parts Management Relationships Why is it that almost all training and literature relating to spare parts management focuses on the technical and supply chain issues? You know the sort of thing: calculating stock levels, optimization, data management, dealing with excess and obsolete stocks, planning and scheduling effects. All important stuff but what […]
Will Artificial Intelligence End My Career?
Subject Area: Artificial Intelligence ChatGPT was released for public access in November 2022 and since then reports and updates have been constantly in the media. Depending on your perspective this has led to either alarm or excitement. In the world of schooling and academia there appears to be alarm, as students can use AI to […]
Spare Parts Management Habits – Are They Limiting Your Results?
Subject Area: Spare Parts Management Habits
Work on your Spare Parts Management Process, Not the Results
Subject Area: Spare Parts Management Process “Before you throw more time at the problem, throw more focused action at the problem.” ‘Focused action’ are the key words. Don’t try and solve all problems all at once. Pick one area or issue that needs addressing and work on that. Focus on solving that problem. In many […]